Is Now a Good Time To Build a House?

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Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.

We’ve Bought Some Land, but Construction Costs Are High. Should We Wait To Build?

Nancy asks: “My husband and I have purchased land. Should we wait to build in this crazy time of high cost and unavailable materials or jump right in and hope our equity increases?”

Clark’s Take on Whether You Should Wait To Build

Clark says: Due to rising construction costs, including skyrocketing lumber prices, “I’d give it a little bit of time.”

“You have the land already,” Clark adds. “Just give it a little bit of time. We go through these phases in real estate, and I think you’ll find that your cost of materials … and the rest will moderate and become more reasonable over time.”

To hear Clark’s full take on this question, listen to the segment:

Do you have a question for Clark? Use this form to ask him! And remember that you can listen to the Clark Howard Podcast at any time here.

If you have a question but don’t want to go on-air, contact Clark’s Consumer Action Center for free money help.

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